Bitcoin has corrected after hitting all time of $19797 few days back and today it hit the low of $17763 before retreating. If one can notice at daily charts of Bitcoin than I am sure they can surely take this correction as buying opportunity and before going any further, let us take a quick look at chart below........
On chart above one can clearly notice that consolidation area which is marked in red rectangle is now acting as supporting area which is one reason of retreating of corrective move of Bitcoin today.
Another reason which has acted as cushion is 10 Days EMA which is currently laying at $17762 and this level is infact a low of today's session .So, its good that Bitcoin is testing its key support levels which has and will keep weak hands at bay and remaining strong hands will ride this script much higher.
But, If I look at volumes of few days from today, they are giving some uncomfort to sellers as they are below average. In other words sellers are not participating with much conviction to take this script down but low volumes also indicating low participation of Buyers which is some point of concern.
In the end, their are more sign of buying this script rather selling this script and yes low volume is concern but at these levels one need a courage to ride this script, their are investors who likes to act as dare devil and traders can take advantage of those guys.
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